Commissioner Of Income Tax vs Andhra Chamber Of Commerce

Authority: Supreme Court Date: 1964-10-01 AY: 1948-49, 1949-50, 1950-51, 1951-52, 1953-54, 1954-55 Section: 2(15), 11 Acts: Indian Income Tax Act, 1922; Indian Companies Act, 1913 Result: Assessee Citation: (1965) 55 ITR 722 (SC) Justices: K. Subba Rao, J.C. Shah & S.M. Sikri, JJ. Appeal No: Civil Appeals Nos. 941 to 946 of 1963
Whether income from property owned by Andhra Chamber of Commerce is exempt under section 4(3)(i) of the Income Tax Act, 1922 as being held for charitable purposes --- Held Yes; Whether the activities of the assessee amount to a trade or business, the profit or loss from which is assessable under section 10 --- Not answered as first question decided affirmatively

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